NEW ORLEANS, LA – Today, Mayor Mitch Landrieu joined
the New Orleans Aviation Board (NOAB), regional elected officials,
business and tourism leaders to announce a major milestone in the plans
to build a brand new, world-class airport terminal that will serve as a
crucial economic driver for the New Orleans metropolitan region and
provide a lasting impression to visitors due to its modern design and
open architectural concept.

Announced in April 2013, the new North Terminal will be constructed on
the north side of the existing Louis Armstrong New Orleans International
Airport (MSY) property, creating over 13,000 new construction jobs and
significant opportunities for local businesses and disadvantaged
business enterprises (DBEs) in the region.

"As the most transformative project for New Orleans since the
Superdome, this development will create new jobs and unmatched business
opportunities for the people of New Orleans. For over 40 years, people
talked about developing an airport that was reflective of our city, yet
for decades there was little action and minimal collaboration. We did
the hard work, leveraged our relationships with federal, state and local
partners, and today a financially feasible, world-class airport is on
the way,” said Mayor Landrieu, noting the projected $1.7 billion in
economic impact from construction and $3.2 billion in expected annual
economic impact on tourism.

Today, Mayor Landrieu and NOAB unveiled conceptual renderings of the
650,000-square-foot terminal complex that features two concourses with
30 gates, a consolidated checkpoint, seamless connections between
concourses and 2000 parking garage spaces. The North Terminal design
team consists of acclaimed architect Cesar Pelli of Pelli Clarke Pelli,
Manning Architects, Crescent City Aviation Team and Leo A. Daly/ Atkins.
The $826 Million development includes plans for a $72 million power
plant project, $87 million for a flyover addition from I-10 to improve
access to the airport, and $17 million for an on-site hotel.

"When millions of people visit New Orleans each year—whether for work
or pleasure—one of the first and last places they see and experience is
our airport," said U.S. Senator Mary Landrieu."As the needs of our
city continue to grow, our ability to handle the influx of passengers
must grow too. A new, modernized terminal that is more passenger
friendly with increased connectivity will help us accommodate our
expanding tourism industry and the business community that is making New
Orleans one of the fastest growing cities in the country. I look
forward to working with the Mayor, local officials and stakeholders to
make this new terminal a reality."

Officials also noted the first major milestone to reach the 2018 target
completion date. On December 30, 2013 the Federal Aviation
Administration (FAA) issued a Finding of No Significant Impact/Record of
Decision (FONSI/ROD) for the Environmental Assessment completed in
connection with the proposed north relocation of the terminal complex.
Issuance by the FAA of a FONSI/ROD for the Final EA represents the FAA’s
determination that the proposed action would not significantly affect
environmental resources and approval of the proposed airport action.

"The decision to build a new terminal was a strategic business move to
improve the economic value to the community. We have full support of our
stakeholders, including air carriers, to develop the new North
Terminal,” said Aviation Board Chair Cheryl Teamer.

"The Airport is a major economic asset for the region, even with its
aging facility with many deficiencies. With decreased costs, airlines
will be incentivized to increase business in this region. This new
terminal will provide a financially sustainable airport, improved air
service and thousands of jobs and business opportunities, most of all;
the community will get a world class airport,” said Iftikhar Ahmad,
Airport Director of Aviation.

Louis Armstrong New Orleans International Airport is a critical asset
for the city, the region and state. It currently serves 80% of the
Louisiana’s commercial air traffic, provides over 12,450 direct and
indirect jobs for the community, and facilitates over $2.6 billion in
tourism spending.In 2013, MSY saw over 9 million passengers.

The new North Terminal facility will provide the following strategic
advantages. Funding sources for the program include FAA AIP grants, TSA
grants, Louisiana State Aviation Trust Fund grants, PFC collections,
General Airport Revenue Bonds and Aviation Board Capital Funds. There
is no investment by the City of New Orleans.

LOCATION

The new terminal will provide convenient access and reduced drive time
to the facility for both east and westbound I-10 travelers

Separate arrivals and departure road systems on east and west side of
the North Terminal will reduce curbside congestion and enhance passenger
convenience

Consolidated security check point will decrease passenger wait times
and provide improved screening capabilities for processing large groups
of conventioneers and cruise ship passengers during peak periods

Post-security connected concourses will improve passenger transfers

The number of restroom facilities will triple, which will improve customer convenience

Concourse concessions will have improved access with an open and
spacious feeling for passengers and unobstructed exterior views by being
placed in the center of the concourse

Dual aircraft taxi lanes will improve airline efficiency by reducing
aircraft wait times so that the passengers do not wait onboard the
aircraft for access to a gate

An onsite state-of-the-art hotel

INCREASED EFFICIENCIES

Proper pre- and post-security allocations of concessions will increase
concessions revenues there by decreasing airline cost which will pave
the way for more service to New Orleans

The North Terminal will reduce maintenance and utility costs as
compared to the existing inefficient and outdated terminal facility

The North Terminal gates will be sufficiently spaced to accommodate today’s larger aircraft with increased wingspans

A consolidated loading dock is included in the Terminal design to
improve security and reduce costs by improving operational efficiency

GROWTH POTENTIAL

The new terminal will allow for general aviation and corporate
aviation growth on the south side of the airport which will increase
business in the region and will provide non-airline revenue

The new terminal will pave the way for the future planned intermodal facility

"This is just another great example of the strength and resilience of
the people of this area,” said Kristy Nichols, Louisiana Commissioner of
Administration. "This airport is so important, not just to New Orleans,
but to the whole state, and this terminal will represent another great
step for Louisiana.”

History of the Project

In August 2011, Mayor Landrieu requested that the Aviation Board
undertake an in-depth and robust analysis of the proposed north side
plans looking at financial feasibility, environmental impact, design,
and operational impacts, including potential uses for the existing
terminal and surrounding infrastructure.

Shortly thereafter, the Aviation Board issued requests for proposals
for design, program management, environmental, land use, and financial
feasibility consultants. A team of airport consultants was selected
using Mayor Landrieu’s reformed competitive selection procurement
process. That team has evaluated four different alternatives-
refurbishment of the existing terminal, expansion on the south side, a
new terminal on the west side, and a new terminal on the north side.
Each of these options would allow continued use of the current runways
and would be located within the airport’s existing property footprint.

Funding for the new terminal project will come from various airport
self-generated funds along with federal and state aviation grants. The
City of New Orleans will not be funding any part of the new terminal
project. Additionally, by law, airport funding cannot be used for
non-airport improvements.

MSY got its start in 1959 as a new terminal and two new concourses were
dedicated at Moisant Field, which was used as an air base during World
War II. The official name of the airport was changed in 1960 from
Moisant Field to New Orleans International Airport, but its three letter
identifier remained MSY for Moisant Stock Yards. That original
terminal is still in use today.

The first major expansion occurred in 1974 with the addition of two new
concourses at the east end of the main terminal. This brought the total
number of gates to 42. Several other expansions have occurred since
that time. In early 2013, Mayor Mitch Landrieu, Airport and regional
officials unveiled more than $300 million in improvements at the Louis
Armstrong New Orleans International Airport, part of an Airport
Modernization Program that includes a new and bright interior with a
refurbished ticket lobby, expanded concourse, improved baggage claim,
remodeled restrooms, updated exterior, a new car rental facility and new
retail and restaurant offerings. Those improvements will be utilized
over the next five years, and then will be used in the repurposing of
the existing terminal.

Louis Armstrong New Orleans International Airport is owned by the City
of New Orleans and governed by the New Orleans Aviation Board.

NEW ORLEANS CONGRESSIONAL DELEGATION

U.S. Representative, Cedric L. Richmond said, "The $826 million this
project will inject into New Orleans and the metro area will amount to
an economic boom for the city. It will not only protect the 12,471 jobs
the airport currently provides, but will create many more jobs for local
residents. I look forward to the beginning of this project, and I am
excited about the economic opportunities it can and should provide for
all New Orleanians. We are at our best as a city when everyone has an
opportunity to participate in the city’s progress.”

NEW ORLEANS CITY COUNCIL

District D Council member Cynthia Hedge-Morrell, who serves as Chair of
the New Orleans City Council's Airport Committee said, "We have
embarked on an exciting project that will help us attract more flights
and provide better service to our residents and visitors. It will also
be a tremendous economic driver for the city and the region. I look
forward to watching these designs become reality!”

City Council President Jacquelyn Brechtel Clarkson said, "This new
terminal is such a remarkable accomplishment! It will serve as one of
the greatest economic development tools not only in our City’s history,
but also for our metropolitan and state.”

Councilmember-at-large Stacy Head said, "This new terminal will show
the world that New Orleans is back. Visitors’ first impressions will be
of a clean, modern and accommodating airport full of the fantastic food
and retail offerings that our city is already famous for. I applaud and
congratulate the Administration and the New Orleans Aviation Board for
making this vision a reality.”

District A Councilmember Susan Guidry said, "I can’t think of a better
way to greet the millions of visitors who come to our great city every
year. With this first-class renovation we will properly welcome our
guests – and welcome home our residents – with the very best that New
Orleans has to offer.”

District C Councilmember Kristin Gisleson Palmer said, "I am excited
about today’s announcement as this is an opportunity to improve a key
part of our region’s transportation system. This new terminal will
create job opportunities for our residents and will also increase our
connectivity to the nation and the world.”

District E Councilmember James A. Gray II said, "A state-of-the-art
terminal will increase the number of airplanes and passengers coming to
New Orleans, and increased tourism benefits everyone, from hotelier to
taxi driver,” said District E Councilman James A. Gray II. "Equally
important, this move creates 13,000 new jobs. This is a win-win for
everyone. We’re about to get the 21st century airport that this great
city deserves.”

REGIONAL ELECTED OFFICIALS

Jefferson Parish President John Young said, "The construction of the
new terminal will be a catalyst for future economic growth and
development. It will transform Louis Armstrong International Airport
into a world class airport and will help create much needed additional
economic opportunities and jobs. This will result in the airport
reaching its full potential as an economic engine for our entire
metropolitan region."

Kenner Mayor Mike Yenni said, "I am overwhelmed by Mayor Landrieu’s
leadership and the City of New Orleans’s commitment to the Louis
Armstrong International Airport. My administration and I are working
diligently to change the face and identity of Kenner via the Kenner 2030
Plan. Mayor Landrieu and his team’s $826 million plan to enhance the
airport will bring a northern corridor of Kenner to life. This will be a
catalyst for further economic and growth in Kenner.”

NEW ORLEANS METROPOLITAN LEGISLATIVE DELEGATION

State Senator Edwin Murray, said "New Orleans is a world-class city
that deserves a world class airport. The project will provide a strong
opportunity for economic growth that will benefit New Orleans and the
entire region for years to come.”

State Senator J.P. Morrell said, "I'm extremely excited about the
expansion announcement today. This is an international city that
deserves a true international airport. This is a great day for the City
of New Orleans, and the legislative delegation looks forward to
supporting the Mayor and the City Council in this endeavor."

State Senator Gary Smith, Jr. said, "This much needed improvement will
create jobs and revitalization while bringing the New Orleans airport
back to the first class transportation center that it once was. This is a
win for all of South Louisiana and the Gulf Coast.”

State Senator Danny Martiny said, "A world-class airport is essential
to the economic vitality of our region. This project will make a
significant impact in jobs and economic opportunities for our citizens
and provide the amenities and increased efficiencies that will allow the
airport to grow and thrive.”

State Representative Jared Brossett said, "Revitalizing economic
engines like our airport will produce new opportunities for job growth
and economic development for New Orleans. I'm proud to work
collaboratively with my colleagues and leaders around the region to
continue to earn these important wins for the people of New Orleans."

State Representative Chris Leopold said, "I applaud Mayor Mitch
Landrieu, the Aviation Board, and the City Council for their persistence
in ramping up Armstrong Airport. This international airport will best
facilitate not only the uptick in tourism, but global demand for our
region's greatest asset, the Mississippi River, and the anticipated
increase in surrounding port trade."

REGIONAL CIVIC, BUSINESS AND TOURISM LEADERS

"The new Louis Armstrong International Airport will provide a pathway
to continued prosperity and sustainable economic growth for thenewNew
Orleans," Henry Coaxum, Chairman of the Board of Directors, New Orleans
Business Alliance. "By providing temporary construction jobs, long-term
quality employment, and contract opportunities for local minority and
women owned businesses, the new world-class airport will multiply its
impact on this community in the short and long term.”

Rodrick T. Miller, President and CEO of the New Orleans Business
Alliance, said, "The Louis Armstrong International Airport is a key
economic anchor in New Orleans, and its transformation into a world
class facility will unlock its full potential to support our continued
growth and progress. By increasing national and international flights
and improving cargo carrying capacity, the new airport will drive
economic growth in our community, grow jobs, increase international
investment opportunities, and improve our transportation and logistics
infrastructure."

Michael Hecht, President and CEO of Greater New Orleans, Inc., said, "Today’s
announcement represents a major step forward towards transforming Louis
Armstrong into a world class airport.Under Mayor Landrieu’s leadership,
the airport will become more attractive, more efficient and better able
to attract the domestic and international flights demanded by the
business community."

Mark Romig, President and CEO of New Orleans Tourism Marketing
Corporation, said, "With the construction of our new airport, New
Orleans will continue to serve our global visitors and citizens of the
region in an exciting and memorable way. Weare fortunate in New Orleans
to have leadership that understands the importance of growing our
transportation assets at the same rate our city is advancing."

Stephen Perry, President and CEO of the New Orleans Convention and
Visitors Bureau, said, "The Louis Armstrong International Airport
provides a first and last impression of the city for millions of
visitors to New Orleans each year, and those impressions really matter
in a $6 billion dollar tourism industry that is driven by image and
perception.”

Perry continued, "All of the improvements and expansions underway at
the airport will be a game-changer for New Orleans' status as a
convention, business travel, sports, and culture and leisure
destination. In addition to a better experience for visitors, the North
Terminal will allow the airlines to bring in more daily flights and more
seats, so that we can better compete with convention destinations with
more 'airlift' such as Atlanta, Chicago and Dallas. We commend Mayor
Landrieu and Aviation Board on this exciting endeavor."